Brazil elects first woman president

Brazil has elected the country's first woman president in a closely fought election. Dilma Rousseff beat former Sao Paulo state governor Jose Serra in a runoff with 55 percent of the vote, according to an official tally of 95 percent of ballots.

Dilma Rousseff, a 62-year-old grandmother who acted as energy minister and recently cabinet chief of the outgoing president, will take over the reign of government from outgoing leftist leader Luiz Inacio Lula da Silva.

The outgoing president, who is on his last term, is very popular in the country with 80 percent approval rating. There were rumors that he might be appointed as senior adviser to the new lady president.